DALLAS, TX – Stoneweg U.S, a real estate investment and development firm focused on ESG optimization in the workforce housing sector, and with a growing portfolio valued at $2.1 Billion AUM, announced the acquisition of Prose Frontier, soon to be rebranded as Prosper Crossings. This 324-unit core plus multifamily asset aligns perfectly with Stoneweg US’ commitment to driving impactful, responsible investments and fostering sustainable communities.
Developed by Alliance Residential and Carlyle, Prosper Crossings spans approximately 15 acres and features 10, three-tale residential buildings alongside a state-of-the-art clubhouse and leasing office. The asset offers a balanced mix of 1- and 2-bedroom units, positioning it as an attainable living community that aligns with the workforce housing sector lifestyle.
“This development exemplifies Carlyle’s approach to the rental housing sector, focusing on demographically driven demand opportunities that offer an attractive value proposition relative to home ownership,” stated Ashley Fitzgerald, Principal at Carlyle.
Strategically situated in Collin County, Texas, a high-growth area within the Dallas MSA, Prosper Crossings serves a rapidly expanding population that has nearly doubled from 47,000 in 2020 to 85,000 in 2023. This demographic surge is accompanied by top-tier educational systems like the Prosper Independent School District and strong income levels, making it the ideal location for a responsible investment.
Garrett Pisarik, Director of Acquisitions at Stoneweg US, said, “Closing this acquisition, especially in these challenging times, is a testament to the hard work and commitment of our team and partners. Prosper Crossings not only offers brilliant investment potential but also serves as a platform for our ongoing ESG initiatives.”
As part of Stoneweg US’ strategic commitment to ESG, Prosper Crossings will see the incorporation of several environmentally conscious improvements including the installation of EV charging stations, and a solar array panel on the leasing office/clubhouse, to minimize the property’s carbon footprint. Socially responsible amenities like expanded pool areas and updated dog parks also contribute to the overall well-being of the community.
“As we grow our portfolio, ESG considerations are at the forefront of every investment choice we make,” said Garrett Pisarik. “Prosper Crossings will serve as another example of how real estate investment and sustainability can—and should—go hand in hand.”

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PHOENIX, AZ – Capital Square, one of the nation’s leading sponsors of tax-advantaged real estate investments and an active developer and manager of housing communities, and Sunstone Two Tree, a developer and operator of rental housing communities in high-growth markets throughout the United States, announced that they have broken ground on a new build-for-rent community in Glendale, Arizona.
The 29-acre lot in the Phoenix suburb will become Ironwood Homes at Rosefield and feature 320 single-family rental homes and plenty of amenities. The new build-for-rent community promises to combine many of the benefits of single-family living – larger units, dedicated parking and private yards – with the advantages and convenience of renting. The property is projected to open later summer 2025.
“Capital Square is pleased to break ground on the development of a single-family rental community in Glendale,” said Louis Rogers, founder and co-chief executive officer of Capital Square. “This Southwestern market is a job engine with record-setting rent growth in recent years and a shortage of single-family homes.”
Development of the project is being primarily funded with proceeds from Capital Square Glendale BFR, LLC, a project-specific limited liability company that is currently raising approximately $49 million in equity from accredited investors.
The partnership closed on the lot at the southeast corner of Northern Parkway and N. Sarival Avenue in September 2023. The 320-unit community will include 102 detached single-family homes, averaging 1,655 square feet, and 218 townhomes averaging 1,257 square feet. Each home will be well-designed, with two tales, direct garage access and a private yard. The community will boast amenities including a pool, spa, fitness center, parks, BBQs, gated entry and sports courts. The lot is conveniently located, with simple access to downtown Phoenix, Sky Harbor Airport, freeways, shopping centers, schools and employers. It is also in close proximity to the dining, retail and entertainment options at The Village at Prasada, a recently opened outdoor shopping center, and Desert Diamond Casino, which is currently under construction.
“Given today’s challenging capital markets environment, we are especially pleased to close on this well-located property and start construction within such a small amount of time,” said Scott Maddux, president of Sunstone Two Tree. “High interest rates are making it one of the worst times for consumers to buy a home, so we believe our unique rental product will provide an attractive value proposition to future tenants. With a proven track record in real estate ventures, Capital Square is an vital partner of ours and we are pleased to collaborate with them to bring this much needed, best-in-class rental housing to Phoenix.”
“Greater Phoenix, the tenth largest metropolitan area in the nation, has experienced a shortage of high-quality single-family rental options due to significant population growth that has far exceeded the pace of housing development in recent years,” said Whitson Huffman, co-chief executive officer. “Glendale BFR provides investors an attractive opportunity to expand their portfolio into a high-growth Southwest market with an experienced team of developers, while also working to alleviate the single-family rental housing shortage.”

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ST LOUIS, MO – In a significant go strengthening the thriving real estate landscape of St. Louis, Passco Companies, a privately held California-based commercial real estate company that specializes in acquisition, development, and property and asset management throughout the U.S. has completed the acquisition of Cortona at Forest Park, a 278-unit Class-A apartment community. Positioned in the heart of St. Louis, this property boasts an unparalleled location adjacent to the iconic Forest Park, downtown Clayton, and the vibrant Central West End. This acquisition marks a significant milestone for both the local real estate market and the overall growth and development of St. Louis, further reinforcing its status as a dynamic city with abundant opportunities.
Cortona at Forest Park is a highly sought-after live/work/play destination, offering residents an enjoyable lifestyle that includes convenient access to the cultural and recreational treasures of Forest Park and the Central West End. This best-in-class development, known for its top-tier amenities, and has demonstrated remarkable property performance and development success, characterized by strong occupancy rates and resident retention. The property is at 93% occupancy.
Passco Companies navigated the acquisition successfully, adding Cortona at Forest Park as a strategic addition to its diverse portfolio. The seamless transition was facilitated by the seller, Invesco Real Estate, a global real estate investment manager, and brokered by Kevin Girard, Mark Stern, and Zach Kaufman of JLL Capital Markets. JLL’s industry expertise and deep roots in the St. Louis market played a pivotal role in ensuring the success of this transaction. Caleb Marten of KeyBank Real Estate Capital’s Commercial Mortgage Group arranged acquisition financing on behalf of Passco Companies.
“Passco is thrilled to add another property in the Midwest to our portfolio. We’ve done well in St. Louis and look to continue that trend with Cortona at Forest Park and its exceptional submarket fundamentals. The property’s location at the southern edge of the city’s famed Forest Park, bookended by Barnes-Jewish Hospital and Washington University in St. Louis, is unmatched in the city.” Clarifies Gary Goodman, Senior Vice President of Acquisitions for Passco Companies. St. Louis is an economic powerhouse with a $173+ billion economy driven by major industries. These industries not only provide stability to the region but also make an array of employment opportunities.
Within the local submarket lies the Cortex Innovation Community, which is located within a 10-minute drive from Cortona at Forest Park. Positioned at the heart of St. Louis between the Central West End and the Forest Park Southeast Neighborhoods, the Cortex Innovation Community generates thousands of jobs and new tax revenue for the city. This community is poised to become a leading innovation district across the United States, fostering technology-related startups, corporate research and development teams, manufacturers, nonprofit organizations, and a rich ecosystem of innovators.
Located at 5800 Highlands Plaza Drive in St. Louis, Missouri, Cortona at Forest Park is a 278-unit mid-rise apartment building completed in 2014. The property is comprised of one 5-tale residential building situated on approximately 4.79 acres, offering a diverse mix of studio, 1, and 2-bedroom units. Residents of Cortona will experience convenient and modern amenities, including a three-tiered courtyard pool with cabanas; 24-hour fully equipped fitness center with on-site fitness classes; and even an on-site dog park and self-service pet spa.

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